UAE Central Bank Keeps Base Rate Steady

2023-11-01 02:41:16

(MENAFN- Khaleej Times) The Central bank of the UAE announced on Wednesday that it has decided to maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) without change at 5.40 per cent.

This follows the US federal Reserve's decision to maintain interest rates at a 22-year high.

The US Federal Reserve held its benchmark rates steady on Wednesday, despite the Economy continuing to show signs of strength and the job market remaining resilient.

The Fed held its rate within the 5.25%-5.50% range, that was set at its meeting in July.

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